That’s what they have done with the car loans, and that’s what they are doing with housing loans.” The so-called new rules do not have any down payment credit score requirement. Zero percent down loans are going to make a very big comeback. According to Calvo, “After the mid-term election, you’re going to see no-money-down loans just really roar back. It’s all part of the pump and dump I’ve been telling you about for well over a year.” So, are the housing market problems behind us? Calvo, whose company buys and sells $100 million in distressed real estate debt annually, says, “Bottom line is we are still in a situation where half of every mortgaged home in America is completely underwater, and the Fed is going to have to print money for a very long time before those values return.